First pet insurance introduced in Ghana

At a colorful ceremony, held at the Advantage Place on 18th August 2021, two giants of Ghana’s insurance industry, Enterprise Insurance, and KEK Insurance Brokers, launched four unique products.

The products: CompExtra, Third-Party Amplified, Home Advantage are enhancements of existing products such as Motor and Home insurance. The fourth, PetInsure is an entirely new one that has been introduced to give extra value to customers.

The CompExtra gives customers who subscribe to the motor comprehensive policy extra benefits such as Loss of use, Misfuelling, and an Extra Personal Accident cover during ridesharing.

The Third-Party Amplified gives customers additional cover for their windscreen, side mirrors, and minor scratches, while the Home Advantage is a bundle of home insurance and pet insurance.

For the first time in Ghana, the collaboration has introduced PetInsure (Pet Insurance) to the market. This product provides cover for medical expenses, accidental death, public liability, injury to caretakers, and more to customers’ pets.

The launch was attended by dignitaries in the insurance industry such as the Commissioner of the National Insurance Commission (NIC), council members of the Insurance Brokers Association of Ghana (IBAG), the CEO of Ghana Insurers Association (GIA) as well as executives of both Enterprise Insurance & KEK Insurance Brokers.

Speaking at the launch, the Commissioner of the National Insurance Commission (NIC), Dr. Justice Ofori said “The Commission is committed to providing the enabling regulatory environment to support the viability and growth of its regulated entities. Indeed, the Insurance Act, 2021 (Act 1061) has specific provisions on innovative insurance to support persons that are interested in breaking new grounds in technology and innovation within the insurance space.”

He added, “For us at the commission, we could not be happier for Enterprise Insurance and KEK Insurance Brokers. It is our expectation that this partnership would bring good prospects and serve as a springboard for several other partnerships that will propel the industry to greater heights.”

The Deputy Group C.E.O of Enterprise Group PLC, Daniel Larbi-Tieku said, “At Enterprise, we pride ourselves with the attributes of Excellence, Authority, Perfection and Strong Heritage. Our brand in summary wields the personality of the Thoroughbred horse. We are happy to say we found similar attributes in KEK Insurance Brokers making our partnership a natural fit.”

Mr. Shaibu Ali, M.D of KEK Insurance Brokers emphasized that ‘The products, namely, CompExtra, Third Party Amplified, Home Advantage, and PetInsure, have been designed with the consumer in mind. The days when insurance providers offer customers the same ‘off the shelf’ insurance products in exchange for their premiums are over.

The consumers of insurance have become increasingly sophisticated and want to see the use of every premium they pay. Insurance providers must therefore offer real solutions to the insurance needs of customers. This is what KEK and Enterprise have come together to do and we are excited about it.

The products can be purchased from branches and agents of Enterprise Insurance nationwide as well as the offices of KEK Insurance Brokers and other Insurance Broker firms. Alternatively, customers can send a WhatsApp or call 0553328333 (Enterprise) or 0509570353(KEK) to transact or make inquiries.